South Korea's pension fund will consider climate change as part of its stewardship activities going forward, the welfare ministry said on Tuesday.
A panel that oversees the National Pension Service's fund management policies decided to add climate change, along with industrial accidents, to its list of focus areas for responsible investment activities, the ministry said in a statement.
Until now, the world's third-largest public pension fund engaged with companies focusing primarily on matters related to corporate governance, such as dividend policy, remuneration caps for directors and violation of rules and regulations. "Now there exists a framework for the pension fund to get involved in companies' climate change responses, and it will have to be monitored whether the fund carries out responsible investment activities based on the framework going forward," said Han Soo-youn, climate finance lead at Solutions for Our Climate, a Seoul-based advocacy group.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
US flies B-52 in joint drill with S.Korea - S.Korea defence ministryThe United states deployed a B-52 bomber for a joint drill with its ally South Korea on Monday, in a show of force against North Korea's nuclear and missile threats, South Korea's defence ministry said.
Read more »
Japan, South Korea Near Deal on Forced Labor DisputeThe countries are close to an agreement to resolve a major sticking point in their relations, boosting U.S. efforts to foster cooperation between its allies to counter China and North Korea.
Read more »
South Korea proposes public foundation to resolve forced labour dispute with JapanSouth Korea announced a plan on Monday to resolve a dispute over compensating people forced to work under Japan's 1910-1945 occupation of Korea, although victims groups have expressed doubts.
Read more »
South Korea proposes to compensate victims of Japan's forced labour through its public foundationSouth Korea's foreign minister, Park Jin, said on Monday the government plans to compensate victims of Japan's wartime forced labour through its own public foundation, instead of using funds from Japanese companies, in a move aimed at improving soured relations between the two countries.
Read more »
Factbox: South Korea moves to resolve historical, legal disputes with JapanSouth Korea on Monday proposed establishing a public foundation to compensate victims of wartime forced labour by Japan, to help resolve strained ties between the two countries.
Read more »
South Korea pushes to end Japan disputes over forced laborersSouth Korea on Monday announced a contentious plan to raise local civilian funds to compensate Koreans who won damages in lawsuits against Japanese companies that enslaved them during World War II.
Read more »